Final answer:
When companies show concern for the common good and the value of human dignity, this is called Social Responsibility. Balancing profitability with moral obligations in business, especially concerning emerging technologies, presents significant challenges. Corporate social responsibility has become a focal point in discussions about the extended rights and moral obligations of corporations.
Step-by-step explanation:
When companies show concern for the common good and the value of human dignity, this is referred to as Social Responsibility. This concept involves businesses taking part in ethical practices that go beyond their economic and legal obligations, addressing social, environmental, and economic issues. This aligns with the interests of not just shareholders, but also a broader category of stakeholders, which includes employees, customers, and the community at large.
Establishing ethical practices in business, particularly with regard to emerging technologies, can be challenging. Corporations are faced with the task of balancing profitability with moral responsibilities. This becomes even more complex with the rapid development of new technologies, as it raises questions about privacy, data security, and the potential long-term impacts on society and the environment.
Corporate social responsibility (CSR) has gained attention within the United States as both the public and governments are calling for corporations to take more accountability for their actions. There is a growing discourse on whether the extended legal rights of corporations also imply greater moral responsibilities, particularly as large firms gain substantial market control and influence.